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Bharat-22 ETF additional sale on Feb 14, govt looks to raise Rs 3,500 cr

The central public sector enterprises that are part of the ETF include ONGC, IOC, SBI, BPCL, Coal India and Nalco

Press Trust of India  |  New Delhi 

ETFs

The government will launch an additional offering of (ETF) on February 14 to raise at least Rs 3,500 crore, officials said Tuesday.

This sale would be for a single day, in which both institutions and retail investors can participate, they said.

"The additional offering of Bharat-22 would be on February 14. This is an on-tap issuance. The base issue size has been fixed at Rs 3,500 crore, with an option to retain any additional subscription," one of the officials told PTI.

The government has so far raised Rs 22,900 crore through the Bharat-22 While Rs 14,500 crore was raised in November 2017, another Rs 8,400 crore was raised in June 2018.

The central public sector enterprises (CPSEs) that are part of the ETF include ONGC, IOC, SBI, BPCL, and

Other constituents include Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL and NLC India. Only three public sector banks -- SBI, Indian Bank and Bank of Baroda -- figure in the Bharat-22 index.

Also, the government's strategic holding in Axis Bank, ITC and L&T, held through Specified Undertaking of Unit Trust of India (SUUTI), has been put in the ETF basket.

First Published: Tue, February 12 2019. 12:05 IST
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